Austbrokers acquires 50% stake in claims adjuster

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Austbrokers acquires 50% stake in claims adjuster

May 12, 2021

Austbrokers acquired a 50% stake in YDR Chartered Loss Adjusters, an independent insurance service provider specializing in loss adjustment, engineering and surveying.

The brokerage arm belonging to the AUB group says its investment will allow the company to leverage the experience and capabilities of the specialist loss adjustment service provider in handling larger and more complex claims, which will improve results for clients.

The price and terms of the acquisition are confidential, an Austbrokers spokesperson told InsuranceNEWS.com.au.

“Members of Austbrokers will be able to benefit from additional access to loss adjustment capabilities within the network,” Brokerage Director Ben Bessell said in a statement today. “YDR is a national company that is well respected by insurers and already works with several members of Austbrokers.

“This is a great opportunity for Austbrokers to continue to develop our portfolio and provide specialized services to our clients.”

The YDR investment is the latest investment made by Austbrokers to support Member Brokers and their clients with expertise in claims services. Austbrokers recently acquired the heavy vehicle claims manager and assessor, QRM Management.

YDR will continue to operate under its existing management structure with Mr. Bessell joining its board of directors.

The company began in 1992 as Laidlaw Young, serving the insurance and reinsurance claims market. She has long-standing relationships with Lloyd’s insurers, underwriting agencies, law firms, coverholders and brokers, including a number of Austbrokers.

Its current range of services includes commercial real estate, civil and product liability, construction and contract work, community strata and companies as well as professional indemnity.



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